Despite the documented ability of smart chips to cut fraud losses, experts say some credit unions and CUSOs have not moved very quickly to start issuing credit and debit cards enabled with the higher tech chips.
A penny is all if overdraft covered by 10 that night or less than $10.
The $5.3 billion American Airlines Credit Union reported that its relatively young credit card program has remained strong during the Great Recession.
Cards services director credits focus on low interest rates, minimal fees.
In 2005, the $5.2 billion American Airlines Federal Credit Union was one of the last large-asset credit unions to start a card program. Now the five year old program has topped $100 million in assets.